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Taiwan Inflation

Taiwan: Inflation inches up November to highest level since December 2014

December 8, 2015

Consumer prices in November dropped 0.69% over the previous month, which contrasted October’s 0.09% increase. According to the Directorate-General of Budget, Accounting & Statistics (DGBAS), the reading mainly reflected large drops in the price for vegetables, fuels and garments.

Inflation inched up from October’s 0.3% reading to 0.5% in November, which marked the highest figure since December 2014. Despite the rise, the variation in annual average consumer prices ticked down from October’s 0.2% drop to a 0.3% decline in November.

Core consumer prices, which strip out prices for electricity and fresh food, dropped 0.13% in November over the previous month, a notable turnaround from October’s 0.52% increase. Core inflation, on the other hand, increased from October’s 0.7% reading to 0.9% in November.

The government foresees inflation of 0.74% in 2016. FocusEconomics Consensus Forecast panelists expect consumer prices to fall 1.1% in 2016, which is unchanged from last month’s forecast. For 2017, the panel sees inflation rising to 1.3%.

The local elections held in Taiwan on 24 November—which were largely seen as a barometer of the incumbent government’s popularity about halfway through the President’s term—delivered a landslide defeat to President Tsai’s Democratic Progressive Party (DPP).

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